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SGX queries SBS Transit, SMRT after share prices surge

SINGAPORE — The Singapore Exchange (SGX) has sent queries to transport operators SMRT and SBS Transit after noting “unusual price movements” in their shares today (Dec 4).
 Share prices surged for both transport operators this morning.

TODAY file photo

TODAY file photo

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SINGAPORE — The Singapore Exchange (SGX) has sent queries to transport operators SMRT and SBS Transit after noting “unusual price movements” in their shares today (Dec 4). 
Share prices surged for both transport operators this morning.

SBS Transit’s shares rose to its highest level in more than four years, gaining as much as 9.4 per cent to S$2.10 in early trading, its highest intraday price since February 2011. It was up 5.21 per cent to S$2.02 as at 1.50pm.

SMRT’s shares rose as much as 6.4 per cent in early trading. It was up 4.73 per cent to S$1.55 as at 1.58pm.

Earlier today, Transport Minister Khaw Boon Wan spoke about integrating the roles of the Land Transport Authority (LTA), which currently designs and builds the rail system, and the rail operators that maintain the system.

Mr Khaw, who was speaking at a forum, also emphasised the need for the LTA to ramp up its engineering team so that it is able to take on operations and maintenance. “This team can then be involved in different aspects of the value chain, going beyond design and construction, which LTA is already doing, to operations and maintenance,” he said. - WITH BLOOMBERG

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